Our Backyard – Anglesea

In real estate and property, just when you’re getting super excited you have just purchased or just sold, you are hit with the extra costs to bring you back down to reality. As a buyer there are stamp duty costs at approx 3-5% on top of the sale price, which is a big hit to take. As a seller, unless your property is your ‘primary place of residency’ you will incur capital gains tax. A lot of sellers along the coast are in this situation, as a beach house is in this category.

Setting up your beach house as an investment, can be structured many different ways, with negative gearing etc. To maximize return, having a permanent tenant is the best way to go, however holiday accommodation rental is really strong from a revenue return aspect. As a general rule in Anglesea ‘property management – permanent’ tenancy can deliver the same as Holiday Accommodation. This is why there are so many owners that go down this path as an option, as they can block out the calendar to use their own property and still enjoy coastal living.

For the downsizer and retirement buyers and sellers, it can be pretty stressful trying to plan out the next 10- 20 years and make it work financially. So here is some really great news that for this category of the market, that may benefit greatly from changes to superannuation from 1st July 2018 ….. not far away.

  • From 1 July 2018, older Australians will be encouraged to downsize to increase the supply of homes for first home buyers. Australians 65 or over will be able to make an after-tax contribution of up to $300,000 from their home sale. Both partners in a relationship can do this meaning combined a couple can contribute up to $600,000 to their super.
  • Conditions are that the couple must have held their home for at least 10 years and that it is the primary place of residence. This will be classified as an additional super contribution and will not be subject to caps.

https://www.supersavvy.com.au/superchange

Looks like there is a silver lining for this demographic that so deserve a win after working hard all their lives.

Back to school and work this week, so last weekend was a little quite on the coast and the awful weather didn’t help. This weekend everyone is back into the swing of routine and it’s shaping up to be perfect for property inspecting.

Last week I mentioned new listing – 1 Twelfth Avenue, Point Roadknight. Open for inspection this Saturday and Sunday 11.30-12pm. Check out the video for this magical property.    Click here for link

 

Also – JUST LISTED!

42 Fraser Avenue, Anglesea – price guide $750K.

The vendors are very happy for me to hold off putting out to the market, so again giving our data base buyers first option to view, this Saturday! 2.45-3.15pm. This 3 bedroom brick home, has all you could wish for on your buyer list. Open kitchen, dining and living with wood heater and split system. There is a large second separate living room that opens up to the backyard. 2 bathrooms, garage and vegie garden! It’s been well loved by the owners, this one is perfect for a cosmetic make over to make it your own.

Have a great weekend, look forward to seeing you at the open for inspections and private appointments.

Regards

 

 

 

 

 

Kellie Saddington

Branch Manager

JUST LISTED

42 FRASER AVENUE, ANGLESEA – price expectation $750,000

I WILL BE HOLDING AN INSPECTION FOR OUR DATA BASE BUYERS ON SATURDAY 2.45 – 3.15PM

 SOLD

5 FIRST AVENUE, ANGLESEA – $2,100,000

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